UEFA, European football’s governing body, announced Monday evening that it would terminate its megabucks sponsorship contract with Russian state-owned energy company Gazprom in the wake of the invasion of Ukraine.
In a statement, UEFA said it had “decided to end its partnership with Gazprom across all competitions.”
“The decision is effective immediately and covers all existing agreements including the UEFA Champions League, UEFA national team competitions and UEFA EURO 2024,” the statement added.
The football organization had been under pressure to sever ties with Gazprom following Russian President Vladimir Putin’s lethal assault on Ukraine. Gazprom had been a UEFA partner since 2012 and the deal was worth around €50 million per year.
Earlier Monday, German club Schalke 04 announced it would terminate its sponsorship deal with Gazprom.